Baytex Energy - BTE Stock Forecast, Price & News

Baytex Energy Corp., an oil and gas company, acquires, develops, and produces oil and natural gas in the Western Canadian Sedimentary Basin and in the Texas, the United States. The company offers light oil and condensate, heavy oil, natural gas liquids, and natural gas. Its principal oil and natural gas properties comprise the Eagle Ford property in Texas, Viking and Lloydminster properties in Alberta and Saskatchewan, Peace River and Duvernay properties in Alberta. The company's properties also include conventional oil and natural gas assets in Western Canada. As of December 31, 2021, it had proved developed producing reserves of 129 million barrels of oil equivalent (mmboe); proved reserves of 278 mmboe; and proved plus probable reserves of 451 mmboe. Baytex Energy Corp. was founded in 1993 and is headquartered in Calgary, Canada.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on BTE shares. Raymond James upped their price target on shares of Baytex Energy from C$9.00 to C$9.50 and gave the stock an "outperform" rating in a research report on Tuesday, July 5th. TD Securities upped their price target on shares of Baytex Energy from C$6.50 to C$7.50 and gave the stock a "hold" rating in a research report on Friday, April 29th. National Bankshares dropped their price target on shares of Baytex Energy from C$10.50 to C$10.00 and set an "outperform" rating for the company in a research report on Monday, July 18th. Scotiabank upped their price target on shares of Baytex Energy from C$6.75 to C$9.00 in a research report on Wednesday, June 8th. Finally, Royal Bank of Canada upped their price target on shares of Baytex Energy from C$6.00 to C$7.00 and gave the stock a "sector perform" rating in a research report on Monday, May 2nd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of C$8.18.

Baytex Energy Price Performance

Shares of TSE:BTE opened at C$6.71 on Friday. The company has a debt-to-equity ratio of 46.97, a quick ratio of 0.59 and a current ratio of 0.62. The firm has a fifty day moving average price of C$6.51 and a 200 day moving average price of C$6.18. Baytex Energy has a fifty-two week low of C$1.87 and a fifty-two week high of C$9.16. The firm has a market cap of C$3.76 billion and a price-to-earnings ratio of 4.53.

Baytex Energy (TSE:BTE - Get Rating) (NYSE:BTE) last released its quarterly earnings data on Wednesday, July 27th. The company reported C$0.32 EPS for the quarter, beating the consensus estimate of C$0.28 by C$0.04. The business had revenue of C$854.17 million for the quarter. As a group, sell-side analysts expect that Baytex Energy will post 1.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Baytex Energy

In other news, Senior Officer Rodney Gray purchased 20,000 shares of the business's stock in a transaction that occurred on Thursday, June 23rd. The shares were bought at an average cost of C$5.69 per share, for a total transaction of C$113,700.00. Following the acquisition, the insider now owns 934,024 shares of the company's stock, valued at approximately C$5,309,926.44. In other Baytex Energy news, Senior Officer Rodney Gray acquired 20,000 shares of the business's stock in a transaction on Thursday, June 23rd. The shares were bought at an average price of C$5.69 per share, with a total value of C$113,700.00. Following the transaction, the insider now directly owns 934,024 shares of the company's stock, valued at approximately C$5,309,926.44. Also, Director Mark Bly bought 12,000 shares of the firm's stock in a transaction dated Thursday, June 23rd. The shares were acquired at an average price of C$5.59 per share, with a total value of C$67,080.00. Following the completion of the transaction, the director now owns 421,544 shares of the company's stock, valued at approximately C$2,356,430.96.